UBON – Mr Mandeep Arora , Managing Director – Consumer Tech Industry
The Union Budget has tweaked duty on electronics and phone parts in the Union Budget 2022. Revision of customs duties on components or sub-parts of consumer electronics items is a seemingly encouraging step to promote local manufacturing and increase local sourcing of components. This may lead to reduction in cost prices of Mobile phones and chargers.”
He further added, “Another noteworthy point was on how using smartphones to carry on transactions will bring in more transparency in the system.”
The announcement of the battery Swapping policy was a step in the right direction towards emphasising greener mobility across the country. This policy, when introduced with interoperability standards, will cause EV makers to manufacture EVs with standardised batteries while reducing the TCO of EV ownership by negating the need to purchase a new battery which is currently the most expensive component of a EV vehicle. The budget this year was Short and Sweet with no populism and focus on Infrastructure, Investment and Digital. Looking forward to the Digital Rupee. I personally feel though that the 30% tax on sales of digital assets could have been lessened. Looking forward to the drone evolution. Interesting times ahead for India as with a With a $3.6 Trillion Market Capitalisation, India now World’s 5th Biggest Market ahead of UK, France, Canada, Germany and Saudi Arabia. Definitely this budget is a Atmanirbhar Bharat Ka Budget.